Why is Redington falling/rising?

As of 11-Sep, Redington Ltd's stock price is currently at 242.10, reflecting a decrease of 1.3, or 0.53%. The stock has experienced a trend reversal, falling after three consecutive days of gains. In terms of performance, the stock has shown a slight decline of 0.10% over the past week and 0.25% over the past month, while it has still managed to deliver a strong year-to-date return of 21.14%. However, the stock's delivery volume has decreased by 20.11% compared to the five-day average, indicating falling investor participation. Despite a solid long-term fundamental strength, including a 17.15% CAGR growth in operating profits and a low debt-to-EBITDA ratio, the stock's recent performance has been impacted by a 6.7% decline in profits over the past year.
In the broader market context, the Sensex has outperformed Redington in the short term, gaining 1.03% over the past week and 1.17% over the past month. This contrasts with Redington's negative returns during the same periods, suggesting that the stock is lagging behind the benchmark. Although the company has a high institutional holding of 79.29%, which reflects confidence from sophisticated investors, the recent flat results in profit before tax and a significant drop in profit after tax over the last six months may be contributing to the stock's downward movement. Overall, while Redington has shown strong long-term performance and market-beating returns, recent declines in investor participation and profitability metrics are likely influencing its current price drop.